Overview & Feature Analysis
A free money-lending app in India
CashFish
is a free
loan
app in India developed by JhuriaFinancialServicesPrivateLimited. This
financial
solution offers
swift and convenient
access to
short-term
loans
for those in need of immediate financing. Users can apply for a loan through their own
personal devices
, making the process more convenient and streamlined. Plus, they can
get results
within minutes
of the loan request submission.
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Like other Indian digital loan services, such as
MoneyTap
and
KreditBee
, CashFish offers a wide range of loan options with across-the-board interest rates. Borrowers can rest assured that all transactions are safe with
reliable encryption
technology.
How does it work?
CashFish offers a
paperless
loan request process
, which not only provides increased efficiency but greater
accessibility
as well for users with a smart device. Additionally, loan programs don’t require borrowers to provide credit cards or any type of collateral to be qualified. Borrowers can choose from an
array of loan
options
that best suit their financial needs. After a few minutes, they will be informed of the loan application result.
This loan service is available for
salaried and self-employed
Indian citizens
between 18 and 60 years old. Loan amounts range from
₹2,000 to ₹50,000
and are determined based on the applicant's qualifications. Borrowers are given a term of
91 to 365 days
with options for repayment in one lump sum or monthly installments. The applicable interest rate is
30%
across all types of loans.
You only need to register using your
phone number
to avail of any loan program. Once approved, the funds will be disbursed immediately to your nominated bank account or e-wallet. While the loan process is simple, there are reported complaints from borrowers regarding the
inefficiency of payment collection
. It involves receiving SMS alerts from the company requiring immediate payment from borrowers even when they have just fulfilled their repayment obligations.
Is it safe and trustworthy?
CashFish is designed to make borrowing funds easy and fast. However, this convenience may lead to a debt trap as the process only requires a few clicks and minutes of approval. The interest rate is also astronomical compared to those of traditional loan programs. In some cases, the payment collection process is
not customer-friendly
, making this service unreliable. Overall, this app may not be the best money-lending option for borrowers.